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Gala Coral Results

Thursday August 22,2013 : INTERACTIVE GAMING THE STAR PERFORMER IN GALA CORAL RESULTS
 
Interactive earnings soar
 
Results for the 12 weeks to July 6 2013 have been posted by the UK land and online gambling group Gala Coral, showcasing an outstanding performance from the group's interactive interests, which saw earnings soar 25 percent to GBP 6.6 million.
 
As a group, Gala Coral gross profit rose 3 percent to GBP 193.9 million in the company's third quarter 2013, with earnings in the three month period up 7 percent to GBP 57.4 million and net debt reduced GBP 128.9 million to GBP 1.193 billion following the sale of 19 land casinos to the Rank Group for GBP 179 million .
 
Group turnover increased by 9 percent year-on year to GBP 259.1 million compared to last year's GBP 237.1 million.
 
The interactive division was a star performer, reporting:
 
* Earnings up 25 percent to GBP 6.6 million
 
* 15 percent rise in active customers to 197,100.
 
* Coral Interactive delivered a 105 percent increase in gross profit to GBP 3.9 million following a 41 percent increase in active player numbers.
 
* Gala Interactive achieved a 28 percent increase in active customers, driving a 44 percent increase in wagers and a 27 percent rise in gross profit to GBP 2.6 million.
 
* Sports betting turnover up 160 percent to GBP 67.4 million and gross win up 119 percent to GBP 4.6 million.
 
* 424 percent surge in Gala Casino’s active customers to 38,800.
 
* Casino turnover up 128 percent, with gross win rising 190 percent and gross profit leaped rocketing up188 percent to GBP 2.1 million.
 
* Gala Bingo actives were up a more modest 4 percent, generating turnover up 23 percent, and gross profit gained up 13 percent to GBP 10.3 million.
 
* Eurobet Italia  online sportsbetting pushed its market share up to 9 percent from last year's 7.2 percent.
 
Across the group, the results were positive with the exception of Gala Retail, which recorded a 9 percent decline in gross profit, in contrast to Coral Retail, which saw a 4 percent rise.
 
Group CEO Carl Leaver said the performance of both Coral Interactive and Gala Interact was noteworthy, and that it is being supported by an increased level of marketing that will drive growth into the next financial year.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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